The Israel Continuous Glucose Monitoring Market is projected to grow at a CAGR of 14.61% during the forecast period to reach US$18.751 million by 2028, from US$7.217 million in 2021.
Continuous glucose monitoring or CGM is a wearable medical device that continuously tracks blood sugar levels for people with type 1 and type 2 diabetes. Tracking blood sugar levels is extremely essential for diabetic patients as they have to make sure when to take insulin and CGM devices to help them determine that. CGM is a widely used technology as it is advantageous for diabetics. Studies have shown that the use of CGM devices ensures a shorter duration of hypoglycemia or a lower level of glycated hemoglobin. In Israel, the continuous glucose monitoring market is segmented by application and end-user.
The growing prevalence of type 1 and type 2 diabetes, continuous product launches by key market players along with rising government initiatives and programs to educate people about diabetic health & care are some of the key determinants which are positively impacting the demand for CGM devices in this country.
However, the high price of CGM devices and the lack of reimbursement policies by the medical insurance provider in this region are obstructing the growth of the Israeli market for continuous glucose monitoring devices during the analysis period.
One of the primary factors driving the growth of continuous glucose monitoring devices in Israel is the high prevalence of type 1 and type 2 diabetes among the population. According to the statistics presented by the International Diabetes Federation, 9.9 percent of Israeli adults, or more than 536,500 people, have diabetes in 2021. This number is expected to reach 781 thousand by 2045. Moreover, 82.6 thousand people have impaired glucose tolerance in this country, which puts them at a greater risk of developing type 2 diabetes. The number of people suffering from IGT is expected to reach 111 thousand by 2045. Those who have diabetes run the risk of significant and fatal consequences like heart attack, kidney failure, blindness, and lower limb amputation. This leads to a lower quality of life and higher medical expenditure.
The prevalence of diabetes has alarmingly increased across Argentina in recent years, reaching an all-time high mostly due to lifestyle changes. Diabetes is also one of the leading causes of death in Israel. According to IDF data, nearly 13 thousand died due to diabetes. Diabetic patients must make several adjustments throughout the day to keep their blood glucose levels within acceptable ranges. Therefore CGM devices are extremely crucial for them. The decreasing cost of CGM devices in the country is also propelling market demand.
To combat risk factors like obesity and other medical conditions, the Israeli government has implemented several reforms over the years to improve the distribution of doctors, create new types of service organizations, introduce new financing models, and implement a variety of quality improvement initiatives and policy frameworks in the healthcare sector. This also emphasizes chances for sustaining and growing advancements in the provision of diabetes care and the application of diabetes technologies. For instance, due to the rising prevalence of diabetes Israeli government has formulated a national plan for the prevention and treatment of diabetes.
Initiatives implemented by the Israeli government are anticipated to fuel the market's expansion. In order to ensure cheap pricing for devices, the Israeli Federal Government collaborated with a large number of private businesses to use their supply chain. With the introduction of new technologies, continuous glucose monitoring devices are becoming more affordable, which is projected to boost the segment's growth throughout the forecast period.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2021 | US$7.217 million |
| Market Size Value in 2028 | US$18.751 million |
| Growth Rate | CAGR of 14.61% from 2021 to 2028 |
| Base Year | 2021 |
| Forecast Period | 2023 – 2028 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Application and End-User |
| Companies Covered | Abbott Laboratories, Dexcom, Inc., Medtronic plc, Senseonics Holdings, Inc., Insulet Corporation, Roche Holding AG, OrSense Ltd., GlucoMe Ltd., HAGAR |
| Customization Scope | Free report customization with purchase |
Israel Continuous Glucose Monitoring Market Segmentation: